Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q2 2023 Earnings Presentation
14 slides from Aerovironment's earnings presentation, Dec 6, 2022
Slide 1: Third Quarter Fiscal Year 2023 Earnings Presentation
Third Quarter Fiscal Year 2023 Earnings Presentation March 6, 2023 052620 Slide 1 © 2023 AeroVironment, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imp
Slide 3: Third Quarter Fiscal Year 2023 Key Messages
Third Quarter Fiscal Year 2023 Key Messages Achieved third quarter results in Narrowing revenue guidance to $510 line with or slightly ahead of our million - $525 million with 100%+ visibility expectations with record funded backlog to midpoint of guidance range with over $400 million as of January
Slide 4: Third Quarter Results Fiscal Year 2023
Third Quarter Results Fiscal Year 2023 Year-Over- Metric Q3 FY23 Year Change Notes Overall increase in revenue primarily due to increase in revenue in SUAS segment and TMS segment, partially offset by a Revenue $134.4 m +49% decrease in revenue in MUAS and reflects an increase in products sales part
Slide 5: Revenue Mix by Segment and Type
Revenue Mix by Segment and Type QUARTERLY REVENUE BY SEGMENT QUARTERLY REVENUE BY TYPE $160.0 100% 50% 53% 44% 47% Percentage Quarterly Revenue $132.6 $134.4 90% 44% 32% 45% $140.0 $120.0 $108.5 $111.6 80% 40% 37% $100.0 $90.1 70% 34% 35% Gross Margin Revenue in millions 60% 31% 30% $80.0 $60.0 50%
Slide 6: Adjusted Profitability by Type and Non-GAAP EPS
Adjusted Profitability by Type and Non-GAAP EPS PERCENTAGE ADJUSTED GROSS MARGIN1 NON-GAAP DILUTED EPS2 60% $0.40 49% 50% 45% $0.30 41% 37% 38% 40% 40% 36% $0.20 34% 0.31 0.33 30% 30% 28% 26% 23% 21% 27% $0.10 20% 12% $- 10% $(0.10) 0% Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 $(0.20) Adj Product Marg
Slide 7: Updated Guidance: Fiscal 2023 Outlook
Updated Guidance: Fiscal 2023 Outlook EXPECTED % CHANGE Increase in FY23 AS OF 3/6/2023 FY22 RESULTS FY23 REVISED GUIDANCE (TO MIDPOINT) midpoint Revenue and Adjusted EBITDA Revenue $446 million $510 million - $525 million 16% Guidance Due to Strong Order Flow. Net Income/(Loss) ($4 million) $0.3 mi
Slide 8: Visibility for FY23
Visibility for FY23 REVENUE (MILLIONS) Revenue Guidance Revenue Guidance Range as of 3/6/23: Range as of 12/6/22: $510 to $525 million $600 100%+ $505 to $525 million visibility3 92% $2.3 Revenue Guidance Range: visibility 2 $500 $3.1 $490 to $520 million $3.5 75% visibility1 $77.9 $166.3 Company $4
Slide 9: Financial Tables
Financial Tables 052620 Slide 9 © 2023 AeroVironment, Inc.
Slide 10: Appendix A – Reconciliation of Non-GAAP Earnings Per Diluted Share
APPENDIX A – RECONCILIATION OF FISCAL YEAR 2023 AND 2022 NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) 052620 Slide 10 | © 2023 AeroVironment, Inc.
Slide 11: Appendix B – Reconciliation of FY2023 Non-GAAP Diluted EPS Expectations
APPENDIX B – RECONCILIATION OF FISCAL YEAR 2023 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 11 | © 2023 AeroVironment, Inc.
Slide 12: Appendix C – GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin
APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN 052620 Slide 12 | © 2023 AeroVironment, Inc.
Slide 13: Appendix D – Historical Adjusted EBITDA Reconciliation
APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION 052620 Slide 13 | © 2023 AeroVironment, Inc.
Slide 14: Appendix E – Reconciliation of Non-GAAP FY2023 Adjusted EBITDA Expectations
APPENDIX E – RECONCILIATION OF NON-GAAP FISCAL YEAR 2023 ADJUSTED EBITDA EXPECTATIONS 052620 Slide 14 | © 2023 AeroVironment, Inc.